Vitalik proposes a new “multi-dimensional” Ethereum fee structure

Ethereum co-founder Vitalik Buterin once again raised his upper limit of thinking, trying to improve the current fee structure of the network.

In a blog post on January 5, a proposal entitled “Multidimensional EIP-1559” was proposed, in which Buterin pointed out that different resources in the Ethereum Virtual Machine (EVM) have different requirements for gas usage.

he Add to Citing the examples of block data storage, witness data storage, and block state size changes, there are different limits for short-term “burst” capacity and “continuous” capacity in EVM.

“Our plan today combines all resources into a single multi-dimensional resource (‘gas’), and it does a very poor job of dealing with these differences.”

He added that the problem is that when these restrictions are not aligned, consolidating all the different resources into one resource can lead to “very undesirable natural gas costs.”

Buterin used a lot of technical mathematics to outline his rather complex proposed changes, but in short, the proposal offers two potential solutions using “multidimensional” pricing.

The first option is to calculate the gas cost of resources (such as calling data and storage) by dividing the basic cost of each resource unit by the total basic cost. The basic fee is the fixed per-block network fee included in the EIP-1559 algorithm.

The second, more complex option sets the basic cost of using resources, but includes burst limits for each resource. There will also be “priority fees”, which are set as percentages and are calculated by multiplying the percentage by the base fee.

He stated that the disadvantage of the multi-dimensional fee structure is that “block builders cannot simply accept transactions in descending order of gas costs.” They must balance the dimensions and solve additional mathematical problems.

related: As gasoline costs soar, Ethereum supply briefly plunges into deflation

Since the current priority is the next major upgrade, it remains to be seen whether the proposal will be passed. The Ethereum network is currently preparing for a “merger”, which will allow the Ethereum blockchain to dock with the beacon chain and effectively end the proof of work. The test has been carried out on the Kintsugi test network and is expected to be fully deployed in the first quarter of this year.

EIP-1559 was deployed in August As part of the London upgrade, some transaction costs were burned to make natural gas pricing more predictable.Since the launch, according to the destruction situation, 1.36 million ETH has been destroyed, which is worth about 4.7 billion U.S. dollars at the current price tracking device.

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